DHX buys Shortcake, Peanuts for $345m

Canada’s DHX Media has acquired the entertainment arm of Iconix Brand Group, handing it control of the Strawberry Shortcake and Peanuts children’s properties.

The deal is for US$345 million, and will see DHX take 100% of Strawberry Shortcake and 80% of Peanuts, with the remaining 20% held by members of creator Charles M. Schultz’s family.

The amount will be paid through a mix of cash on hand, a new debt financing facility and a private placement offering, and the deal is expected to close on or around June 30.

Peanuts is the brand behind characters such as Charlie Brown, Snoopy, Lucy and Linus.

For DHX, the deal expands its library of children’s properties, coming after deals for rights to Teletubbies and In the Night Garden. The company also owns the Inspector Gadget, Caillou and Derassi brands.

“Over the past ten years, DHX Media has become a global leader in children’s entertainment content, building scale across production, distribution and consumer products and is perfectly positioned to benefit from the incredible growth of streaming services, worldwide,” said DHX CEO Dana Landry.

“Peanuts and Strawberry Shortcake have widespread, evergreen appeal that make them ideal for layering onto this platform, complementing our 450-title library, and significantly increasing our scale in consumer products.

“These brands are expected to drive meaningful growth across multiple revenue streams, and we look forward to extending their reach to new generations of kids worldwide.”